"OT535wf55B,SSSS8BwsSRK
rt&mTr "DTf i"iW
EVENING LEDGER-PniLADELPEtlA, MONDAY. MABOH 20. 1916-
14
FINANCIAL NEWS
'llH I I "I "' ' ! ! I !! ! ! I I' ' M ! J
STOCKS WENT OFF ON REPORTS
OF CANCELLATIONS OF ORDERS
Three to five points losses sustained in many issues.
Reichsmarks Sold at New Low Record of 71Ms
Demand Sterling Up a Trifle
New York Stock Sates
lA8t ClOSO.
Alaska J OoM M lo
JUfMkll (lold Minos.... 21
AIIH-Ch.ilmfrt Mfe.... .11U
I AllH-Chal Mfc nf SO
-.m AR CIlPIMCikl O'.IJS
High Points in Today's Financial News
Philadelphia bank statement showed increase in loans of $5,330,000
jdurind week, while surplus fell $0,9S2,000. Initial dividend declared on
Philadelphia and Western preferred of 1 li per cent. Initial payment
of 1 3-i per cent, on Jewel Tea Company preferred. Condition of winter
Wheat in Illinois CO on March 15 against 7A en the first of the month.
Canada's total trade may make new high record for fiscal year.
NBW YOUK, March 20.
Tho reports which were first clretilutcil Into lust week of a belief In forelKti
governmental circles that tho end of tho war Is In irosicet wcro Intonslileil
today by tho publication of what wcro allowed to bo details of cancellations of
orders for export of munitions lo tho other side. Tho Influence of theso reports
w.fla pronounced lit forcing liquidation by tho Western plungers, who wero
buyers of stocks at frequent Intervals during tho last week, but Who wavered
from tho bull position because of tho attention attracted to the lower rinmo
at which wheat has been established.
Tho return of .1. 1". Mot-pan, following tho heavy arrival of securities last
week and the heaviness in l-'ioncli exchange, caused reliance to be placed on
assertions that foreign llnanclng would bo attempted moro through sales
foreign-owned securities than by tho placing of new loans, ntlit tho statement
ot tho French Minister of Finance last week advising tho scraping of foreign
holdings In order to find American securities available for siilo created tho
belief that Increased pressuro of foreign securities must bo looked for.
. Probably back of tho weakness In today's market there wuh n dcslro on
tho part of the strong Interests to create a iirw low level on which another
upward movement could be bused; but of such a thing nothing Is said In board
room gossip when a decline Is In progress. Tho market has been called on
Btcadtly to absorb foreign offerings, with tho condition remaining that while
thoso foreign stocks havo been sold here, not a dollar of cash has been sent
to.. one of the lighting allies,
Tho deterring of speculative buying by tho end-of-war reports, usual reach
In of stop-loss orders and perhaps prearranged Withdrawal of support by
strong- Interests easily account for today's losses of thrco to more than live i
points In many stocks. When a turn Is called, plenty of reasons will bo found !
to account for an upward movement. !
Reichsmarks sold at a new low record of 71 U today, but nttor the bid .
on which tins sale was mndo was filled thero was no other nearby Inquiry.
Paris exchange did not Indicate any foreign security Mlllig. Demand sterling
mndo the trilling gain of l-lfi to -1.7". simply becauso sonic remittance was
required by tho Xoordam tomorrow.
Am licet Sugar.
Am can
Am fan rf
Am Car & Ktly
Am Car & Kiiy fit...
Am Coal Products...
Am Cotton Oil
Am llMo ft Leather.
Am HMo ft I, of....
Am co Hoctirlitai...,
Am Unseed
Am Mn-n-nl pf. ..'...
Am Locomotive. ..
Am Loroniotlvi) pf. .
Am Malt forpn
Am Mnlt Corpn pf. .
Am Smrlt ft Kef ...
Am Smell pf A
Am Smelt pf II
Am Snuff
Am Snurf Pf
Am Steel Foundries:.
Am Sugar lief
Am Sugar Kef pf. ...
Am Tel ft Tel
Am Tobacco
Am Tob pf netf.
22
.11 H
70i
0l?fj
.1
.. 01
.wm 112
.. 724 73
..117
..0.V'f
.. CO
.. 10H
. . mn
.. 20
.. 22J
, 424
O'f
Mali, tow, Clone.
OH 0!i Wi
2TOt
211M
78li
08
71 M
01!f
112
fllllf
U0H 111)
iavf ion
55 f3
2S'f
22
12
!'
20?i
2HH
7854
08
7114
0IH
112
IV.)' i
115
103
r,b
invs
m
2SH
?m
I2'f
w
TRADING ON CURB
ON SMALLER SCALE
Business Almost at Standstill
at Times Heaviness Fol
lowed Steady Opening
10'
28'
II
MM IKW HVl'i io;w
.8 S H
. ;w :r 3.-i 3."
.wui w low ioih
. lU'f 1)214 !)2'4 02'i
. 87f 87 S0'4 87
.H.-, 142 112 112
.KM 10.SU 11WU 1D8U
. WW oil MH fil4
.112U 112 1I1U 1I1U
.110U lr,H llo'i 11iV4
11SIJ J 12!)'( 12UJI 1211'f
.lien liu
.107 107U
Am Woolen R2H 2h
102 102
1II7U 107U
oO.U fou
l8U !
II) I"
81 Sl'4
H0U SOU
K):t54 HKI'i
100! 101U 101 10I.U
..112 112U I0.1U 100U
,. .SOU 80)4 80 80
.. 70H 70,'. 7(W "CJl
..Ml 52(1 fi20 f)20
.. 10 10U 10U 10U
. . 1KI m 87 b"1j
.. 2.i 2.)j iM'i 1JU
. . fi IU '"" " ""
. .107U 107U 10014 105)i
. . f,V'i ViU " "
Ml
.Mercantile .Marine Foreclosure Suit Goes Over Until
NEW YOUK, March 20. The foreclosure suit in tho rnso
tlonal Mercantile Marine Company was on. the calendar of the
Court today, but there being no Judge to tnko It up. It went over
April n
of tho Interna-
Federal Plstrlct
until April 8.
ACTIVE BUYING
SENT WHEAT UP
Offerings Small, Except on
Bulges Much Unfavorable
Crop News Received
New York Bond Sales
CHICAGO, March 20. Unexpected
strength was displayed in the wheat mar
ket here today on nctlvo buying. Shorts
ft-oro put on tho defensive and offerings
wero small, except on bulges, when they
Increased n, little. '
Unfavorable crop news was tho factor.
It Included an announcement by the De
partment of Agriculture of Illinois that
tho condition of tho plant-In tho State had I
declined eight points from March 1 to 1
March 15 to CC, and that tho area winter j
wheat killed had been Increased 10 per J
cent, to 31 per cent slnco the beginning j
ax, me monin.
.An Important commission houso had
word from correspondents In the principal
winter wheat States that heavy losses had
been suffered In tho Kastern section, and j
K..v u.uiuku iua in mo reporting states,
comprising 75 per cent, of tho total area,
to dato, amounted to 10 per cent.
Iteports from Tcxns and Oklahoma Indi
cated that tho spring drought there Vns tho
most severe In history, although an Im
portant railway company contended that
winter wheat In Texas could do without
moisture for at least ono month more.
Arrivals nt primary points were nearly
double those of a year ngo, but they wero
Ignored as a market factor.
Profit-taking caused a reaction. Slay
e'tfded at 1.00, after having been ns
high as M0',&, against SI. 00a; nt the
close Saturday; July at $1.08',!,, after hav
ing touched $1.08, compared with
Jl,05 at the end Saturday, and Septem
ber at .1.06i, after having sold up to
J1.07s. against 1.01 "A. Saturday's lust
price.
Following s'trcngth at London, the mar
ket at Liverpool turned firm, after behw
dull, with an easier tendency at tho Mart.
Bulla Insisted that thoro was no indica
tion of early peace. Although thero were
rumors of a demand for foreigners, ex
porters said that what few bids wcro on
hand were considerably under tho market
Clearances from the seaboard today, how
ever, wero liberal. The visible supply in
the United States decreased L'. 720,000
bushels for the week, to 01,715,000 bushels.
In sympathy with the rlso In wheat, com
moved upward. Shorts covered. Trade
yraa not large. Oats also advanced.
Wbet Open. HUh. Low. Clou, clou...
May l.uS 1.10J4 1,0s i.im. l.uun
July ..... 1.07 1.U8J4 J.od l.oil.M.iia.
Dteraber. I.imiu l.oih j.03',-i l.im l.oifj
Slay Mil T5H
July ..... 7IH4 70S
September. 7UU 70 H
-()at .
Sfai" 41U -U;
July ..... riU H
lllvli.
Slinno Arwullnfi 3s !U's
limn Alnak.i Cil rf h1 li.i.lli:!
.nun Am Thrt-ud In... . n.sjj
.1UIUIHI Aniclu-Kr I. r,n Illn
Iiiimi Aihit Mmi'lt s,'i.- lis. I Iil"
KiOllO Allll-r Tn rlt ll-J
'(Miii Auier Ti-1 eiinv ls..lul?i
li'isniiii AiniT Ttl i-vt lh .11174
IO1111 Aiiiit Writ 1'iiit :..m 7
aiiin Armour Oi I'jn ... '.ila
L'lHMI AtllllMOIl KI'll In.. .. l'l',
Willi I Ati-hlmin mlj Is sT'i
llillll AlrhlHun i-v Is Hm;i. lcl.'IVj
1IHMI Ati'hlsoii ' 1U1S
."nun I hi It & iililo :i'as. . . 11:1
L'KIIII) ll.tlt & III1I0 r,s till1!
1MIIIII Halt & llllln i I'jn lilli
1.1 II & l V I. KftWV Is s.sH
tlllin llrkn flap Tr .Is lll'a
Hiiio llrld) Hun Tr .Is HUN till
llillll l'ul llus & Kler r,s.. l!l
t IIIIMI Cent l.,.;ithiT 1st ."s. Hilts
alKlllll Cent I'm- 1st 4t Hll
U'llllll l-c-llt it It X J ."is... UN
HH'U Chi (It West Is ".'l'l
.-iniiii Chi & W 1ml Is.. 7II".
li-.iioo Chl II & 10 Joint Is., li",
Hhiiiii do Ken Is Ii:"
.,111111 cii Mil & St I' cen 4s Vlli
limn iln ,lv Is l'5.
L'lllil) dn i-i Tis Hll'
HiiilKI (In cv "is HI7
-OHO iln cen 4'ds Hi:i
.-ililM) Chi Mil & 1" S Is.. 117 '
SlKHi Cnrn rrml .". 1IIU4.. (HI
liiiiu Culian Am S lis HUH
limn Cuinlierliiml Tel ."... 10H
' I111111 Del & llu.l rM Is., ml
limn Den & lllo Hi- 4s.
l.-.liiji) iln rfil ,s
-.'iiiiu IJetnilt fnlleil Mjs
lil-Jumi DIs Seiiir Corp ."is.
.'tunil i:rle Ken Is
71)1111 dn mm- 4s Ser 11
.",111)11 111 St.nl dub lbs.
iniiii low.i 1 i-nt 'S.
W1110 In I'opper i-v Us
LIIIIU no
Lard
Sty 11.30
July . ...ai.uo
lllbs
Slay .....11.03
July . ,,.12.t'0
Pork
May ,.,,.2S.83
July 22.50
"ilU. tAaked,
74 Ti
711
70
41
42?;
t7il(i
7il !i
44i
43 '
7IU
73H
75i
t43
11.40
U.U7
.00
.23
22.00
22.73
11.27 tll.40
11.02 tll.CJ
11.02 12,00
12.17 M2.22
22.70 t22.83
22.30 122.02
11.27
11.52
11.92
12.17
22.80
22.30
W LOAN BY BRITISH
COVERXjIEXT AT I'RESEXT
Mobilization of American Securities
as Collateral Deemed Unnecessary
NEW YOItK. JIarch 20. It is not ex
pected that there will be any Important de
velopments in the near future Incident to
the mobilization ot American etoclts and
bonds by tho Ilrltlsh Government. While
reports hava been current from time to
time that a large loan would be negotiated
with American securities as collateral, the
belief is expressed in well-Informed circle
.that it will not be demed necessary to
take puch a step for th present, at last
There have been large amounts of se
curities disposed of by Great llritain and
the indications are that sales will continue
In sufficient volume to stabilize foreign
exchange rates and meet such obligations
In this country as the UritUh Government
may have falling due from time to time.
It was pointed out today that such a pro
cedure was regarded with greater favor
by the Brltuth Intarests than the erwitlon
fit an additional large loan wcurad, per
Jutps. by a part of the mobilized stocks
. and boods,
77 H
HIV
, . . . .VJ
11I.11MU
....lllll
:illllll lnti-rl. Mil His... TllTi
l.'liiuil Inter Mer Mar rt... lis
2111MI Int & tit Nor 1st lis lTi
."iiliin Inter Stm 1 ct 3s.. 7il
'.limn Ijuk.i St 3s iii.-ii.. 11," U
21101111 l.k Mh c..h 4s Hull.. HI'.
71 1.1a & M T 3s 11124
llino Urns Island rfil Is., uu'.
211111I Louis & Nash Is., 1114
limn Minn & HI 1, 7s 113
limn Minn St 1" S S m Is 11:1 4
limn Mo Kan & T 2d 4s. . 42'!
20011 dn 14s ,1S'.
,-IOim do M Is 32
llillll Mont Power 3s 117
2IHIII Nat Knam A Sip 3s. 1l7ai
3IIIIII Nat Tubo 3s 1111
201111 N Y Air llrl: i-vt Iis.lni4
7IIIIO N V C & It 4s !2I
71)1111 do 14s 1114
3111111 N Y ivnt Us 1114
limn N Y (Vnt en Is MIS
IIIIHHI N Y City Is 10.V.I... ti!l4
llillll do 4 4s lillill 1112
llillll do :i4s Nov 1031. KS'i
2IIOII N Y t! II & 1' 4s... HI 4
llillll N" Y Out & W 1st Is MI4
lSIHIII N Y Ilwy ref 4s ... 7114
IIIIHHI do ailj 5s Ill't
Mlilll N Y Tel Ben 44s... IIS1,
3U0H N Y W C & II 41s.. 7.S4
nusiiu Nor Pat- nrlor 4s IMS
l.'ilion Oro Short 1, ret 4s.. 03S
llillll I'aelllc Tel 5s lmi'i
noun l'enna cen -t 44s.. IH2
Kinilil do en 44s 11134
51(10(1 Heading- Ken Is 1U4
luon Hlo (Ir i W 4s 711
5HIIII ltiH-k Island rM 4s.. ml')
2IIUI) Hod; Island 3s 4:14
lllilll St IaiuIs Swn 1st 4s 7'.)
3II0D do cv 4s 1124
300II St I1 M & M 1st 4s.. UU
4IK1II Stand (las lis Kill
3l;ill) Sealioard A I. mil 5s 117
2001) Sealuanl A 1. rfd Is. 704
201111 South Hell 3s 1004
Jlllill South I'm- 4s h7
2U00O South Pac cv 4s.,.. XSS
luon uo cv ret I i as..ii.,
I iiiimi outn t-ai- rtn -is
"linn Stli Ity urn 4s .
limn Min id' con ns ..iii.-hb
4IMHI Till it l) W dlv 5s.. 11124
.Mlilll Ti-nn C i Ir 1st 3s.. III!
10011 To! IVo & V 4s . . . 37 1
innn Trl-("lty
llillll
1KIIIII1
3111111 t! S Steel rek- 4s h!lI
Snoilii t'n I'ac 1st 4s !I7S
lloon Va Hy tin 1184
limn Wi Tol 4s St
llillll W-P T 1st ct 4s t P :u
Illlllll W Klet- cv 5s i:i3
5IIIH) W Mil 1st 4s 72i
loon v Shore reir 4s... K4
500H V Shore 4s 024
-.719
IrflW.
014
lu:i
li.Hja
llna.
"-' .
1UIS
1074
72 S
!i IS
1114
f-7 4
1IW4
UU 4
n:i
nil
IHl'l
HS4
1112 4
1111
!lllS
10t4l
mi'i
lt7'l
73 1 ,
71H,
ill'M
113 4
112 4
1)2 S
till 4
1117 4
lii:i'i
IU'.
mi
HI2 4
1011
nu'i
7N4
.MIS
77 4
71
711
"h
III 4
Ml
11)14
lli:i
7.-IS
07 4
07 4
71!
03S
1114
102 4
tii4
0 1 4
113,
0:14
42
?."!
117
117 S
mi
104 4
024
oK
1114
MIS
004
102
nS
Ml 4
Ml 4
7114
ill
nss
7S
0.1-s
li:i 4
inns
1112
103 4
HIS
711
111 1 4
434
70
1124
Oil
in) 4
117
7114
IimS
M
HS'i
,,7.2?5
574
Close,
in 4
1(1.1
OS's
014
iios
02.
mis
1117 S
1.47?
01s
7'l
ln:i4
lllll.
Ii:i
101
0114
hs'j
102 4
101
tm S
lillS
lioS
H7S
73 4
70S
OSS
IKI4
02 4
02S
1014
107S
10:14
ins
00
1112 4
lllll
mi 4
?I
7l
7SS
IU 4
Ml
tlll'i
111.,
734
07 4
07 4
7ll
054
IMS
1024
on'i
1)14
115
1134
42
3S4
52
07
07 S
11)1
1014
112 S
OIS
1144
his
1)1)4
102
xsS
Ml 4
Ml 4
7114
(114
uhS
7hS
031,
031
tons
1112
1034
MIS
7 il
nil S
Tii'
lid
inn
117
71)4
ions
?.
hsS
llll'l
00 s
71 S
102S
102 4
911
7
Trl-City 5s 10114 10114 II1114
U S Uuv 3a res ....HI2'I 11124 1"2'
U S Steal 3s sp ..llll', HH4 11114
MIS
07 4
ON 4
Ml
311
13.".
72 K
MI'I
024
Total sales. S2.02O.000,
32,300,000 last Monday,
compared
Ml ".
07 4
0K4
hi
.In
135. ,
72
604
024
V.III1
NEW YORK COFFEE MARKET
NBW YORK, March 20. The coffeu
market was easier this morning and first
prices ywtu 5 to 11 points lower under
scattered selling, prompted by the unfavor
able Brazilian markets.
Today's
opening.
March
April , 7.80
May 7.M1
Jum 7.sa
July 7.00
AUSUSI
September
October . . .
November .
Dwcwmber .
January . .
Kwbruary .
Uld.
. 8.03
. S.O3S8.0I3
! k'.il
. s.i'iies.23
.8.2.1
Saturday's
7.h7W7.M1
7.02&7.SI
7.04 07.01)
B.0t8.03
h.UaWK.Uli
S.OSBs. II)
H.UQH.12
H.lr,$g.l7
S. 22 8. 23
8. 211 . 2(i
H.308.32
Canada May Have Record Trade, i
MO.VritBAl., March SO tianada's
total trade fur the fiscal year, which rula
thU month, vnll In ab probability reach
tim record figures of Jl.500.9Ofl.0OO, ac
cordlnjr to tba montlily trade statement
Issued by the Minister of Customs. For
tho. 11 months ended February j' the
total was f i 3otf.M,04rQ, the statement
i-l. wHlg tloi.iwU: exports of S053.18G 000,
--adf area it it $J4.29 ooo in the previous
4 jsn (. naiouoiea 10 itf,7fg,oao,
American Locomotive Orders .
NKW YOUK. March 20 The following
equipment orders are reported by the
American Locomotive Company: ity the
Ureen Bay and 'Western ltallroad, one
mogul freight; by the Nevada Northern
Itallway, one consolidation : by the Chi
cago Junction Itallway. Ave six-wheel
switchers; by the Chicago River and In
diana Itallway. oae six-wheel switch; by
the Montour Hallway, four Mikado type;
by the Pekin-Kulgan Railway, four Mi
kado type, aiul by the Russian State Rail
ways, six Decator type.
i,
rajuat UJi,859.0tfU.
Illinois Wheat Condition Lower
SPRINOPIBLD. III. March 10. A bul
letiii Issued by the State Department of
Agriculture places the condition of winter
whim' io the State as of March la at SO,
against 74 on March 1 The area winter
killed is estimated at 31 per cent, against
21 per cent, reported en March, 1.
I) l'l
Ol'i
Tm
. 13'f.
as
Wi
lt!75.
17'i
71
17i
US
b-m
i:i7
jj'f
I'SM
Urt
117H
l!.
L'24
A 14
llh
an'i
O.Vi
174
I7H
7.I4
IS'i
Am Woolen tf !)!)' II!)
Am Wrltlnu' I' pf I.Vf I7ii
Am Zinc I, & hm SS.4 ,S!)' j
Anaconda Cop M S74 S7'l
Alrh Top & H F 101 101
Alrti Top A S K pf
,, j ii.uii J,oro wks
ii.m x unio
Halt ,t Ohio pr
Ilelhlrliem Pteol
lltiln? T ,V II It sec. .
Untie & Supotlor
cal ivtrolpuni
cal IVlroliMim pf
Canadian l'.vlflc
Central l.patlior
I handler Motor
flir & Olilo
Chili' Copper
Chlno topiior ,
Clilrapi Ot West
fill (II We.it pf
('Ill Mil A SI I'
chi & Norlhtteslorn. .
(Ill It I A 1'ar
riui'it I'im & ro. ...
1 Col I-'iipI . imn
! Col & Soiith-rn
Conllnpntal Can
I Consolidated t!a
i Cotn Products Hi'f. . . ,
Corn Prod Itef pf. ....
Crtidlile Slivl
CriiPllile Stppl pf. ...
Ciilian-Am Snuar
Dolrclt IMhoii
Ilplrnll Kilbon tts....
Diamond Malcli
Distil S-c Corpn
Dome Mines
Krle
Kile tights
HtlP 11 pf
Krle '(! Pf
Viil Mln A Sm pf
(!pii Chenilr.il
(ion Chemical pf
(ieneral Klectrlc
(iener.il Motors pf. ...
(iraiilrlch II r
(inodrieli II F pf
(Iranliy Conol
(ircpiiP-CanaiiPa
(IriMt Nnrlliern pf
C X cfs for or prop.,
(iticci-nlii-lm Kipln....
liu Agricultural
Irt Aurlcultural pf. .. .
Int IIar Corpn lis'
Int llarv X J KKP
Int Con Cor v t c. sh.. 10'j
Int Con Corpn pf 72'f 72'$
Int Paper ll.'i 124
Int Taper pf 19'' fiO'i
Irisp Con Cop -IS ISti
Int Nickel v t cfs -IS IS'i
Int M M cof dp 17Jf 17 i
Int M M pfcofdp... 723 i 7.'tj
Jewel Tea 7:1 72a
Jewel Tea pf UK)!; KM
Kan City utliern. ... 2()5i 2IJ
K C Ft S & M pr 111
Kelly Sprlnu Tiro 7J.U
Kennei-ott Copper H
KIns Co B I, & V.... 130
Lack Steel Co Sl.'
Lie Kuhber Tire ,il
b'hljjh Valley 7S!i
IKP
OH'.
am
JUM
MH
11
JiO'
0-1'
127
17'i
7:t'4
tl'l
u
at
OI"j
127
17-j
7.1' i
Wi
27'f 27' i
SI Kl'i
iiiti lac.
JIM 22
OV- IW'i
S'JM Wl'i
lll'i lll'i
22(1 L'Ji I
la-Ji'j v.vv-j
1', !
IDI'i 101.',
17' i 17'i
217, 21',
II7'i .'17'i
M i
524 fi'J'a
ll4 II? i
i2 mu Pi
:uus4' aio am
lll'i IH'-j 1114
irWj ins'i ins' 4 ios'j
in na.'i ii:i n:;'i
7.i 7.V 72' i
ii(j'f mi no
ill 00' n mi
is?; is-; -is
122' a 122'j 122
IIP a -17 1(1
20?; 21 21
20'j 'Jllbi 2(j
l.ll'i (ill), ii'1,'4
70 70
inau loo'v
17'i i
SRW VOllK. Mftt-eh 20. in the market
for outnlde securities today trndlnjr was
les.l nctlvo nnd nt times business came
almost to n standstill. After a generally
fiteady openlnB, consldcrnhle heaviness
developed beforo midday, especially In tho
moro Important Issues. Traders wcro In
BtruinentAl In hclplnR the downward
trend.
Tobacco Products broke more tbnn two
points on comparatively light oiTcrltiRS,
xallvlnrr feebly. Cuban Cane Kuftar like
wise fell more tlinn two points, vhllo the
prof erred declined more then a point.
Mldvnie Steel eased off about n point.
Aetna Exfloslve wtii nbmit ntendy.
nrlKKS-Keabury (luetunted at n rango of
nhotit S points; I'nole IhiRtneerliiK nnd
Mnchlnery fell nbotit 2V4; Hubmarlno
lloat, nfter a loss of ncnrly a point, re
covered slightly.
Oil stocks wero steady, but less active.
There was a fair Inquiry for Ohio Oil,
Southern Oil of lndlnim and Illinois l'lpo.
Copper shares were tllet nnd nbont
unchanged. Silver slocks wero firm In
spots.
INDUSTRIALS.
.KM
AH
KM
IS'i
2.1
.'I7
(Wi
tr,
r,:i
;i.,o
nfi
sii'j
137
22';
DsU
U7;
lilt
22."
I.TI'i
is;
101!,
lo'i
21';
as'f
H
KYi
i;
Aetna Unpins..........
Amrlinn-lirllisli Mb..
All (luir SIVIH8,..,
do prrf
Amrricnn Mnrronl .....
A Jot llubber Inc w I. .,
Canaillnn Car & Pdry..
do pref
Ohevrnlel Motor (?ar . . .
rurllis Arroplnno
Culiiin Cntie Htninr
Iirljiirn-fi-nbiiry
llnR-ci-ll A llarker Cur.
Ilenden Mfit
liili-r Mer Marine . ... ..
Intrr Mer Marine I'M ...
I "nt Modioli llronje pM .
M.tnhntlnn Tronslt ....
Miixlm Munlllou
Ml.lvnle Steel
Otis r'.levnlor
(nn i:ienlohr w I ...
do pfil
lWrlei.1 Motor
I'oole Hub ft Macli ....
St. .loeph lMil
S S Ivresue w I .
Stiiiid.ird Motors . . . . .
Kulimnrlne III v t etfs.
TrlmRle Film v t ills.
I nllcil l-roill r.imriii .
li S l.lnlit Heat
iln pref
White .MotorH w I
World l-"inn
KTANIJA1U) Oil
l'rnlrlo Pipe
Illlnoli I
(ihlo Oil
Stiindanl Oil of Cullfornlit .
Htandnrd Oil nf New Jersey
Stuiulard Oil of New ork.
01
70?S
.17
K10
.S2.-4
.iij;
70
72' i
12
lU'i'
17?;
174
ir.4
107h
20'i
nt
(,i
.up;
i:io
70H
.10,'i
ro
a?
no
no
is'.
122
Hi
21
20 'i
ran
70
1(105 f
17
72(i
121;
I'J'l
I7r;
174
Ifi'i'
7"
72j!i
IDS
2(1' i
01
7.1'4
.up;
KID
7!)'.'
fi0'
ro
I.lccelt & Myer? 2.11 2.10'; 2.101; 2,1'J1,
IiObe-Wiles Illicult..
Louis & Nash
M.ickay Co pf
Maxni'll Motors
Max Motors 2d pf. .
Minn & St Louts....
Meslcan Petroleum..
1.1
.12.1
. OS
. IU
. 47
. -Wt
US
in,
12.1
08)4
CI
I7JS
5
n.Di
Mexican Petroleum pf!024 101
flOJi
.12:1
12.1
.109
2('4
OS's
.11a
1.114
:i7
12.1' 1
pjiiu
iosr
204
(IS'i
111
inn-
lis
004
10.14
. . 2U 2(i
..12.P 121
.. 704 ti'J'4
111 lll'i
mi 7J;
.1) -.'J4
an
r-7?;
24
. 2b5f
.10.1
. 00
Miami Corper
Nat IIlM-ult
Nat libcult pf
Nat Cloak & S pf.
Nat Knam A S Co
Nat Lead Co
Nat Lead Co pf. . .
Nev Con Cop
Xe York Air brake.. 147
X Y X II A II 004
N Y C A II It io,-,j;
X Y O & West 29
Xorfolk i: Western.
North American. ..
Northern Paciflj. ..
Ontari'j Mlver Mln
Pacific Mail
Pai-llk- Tel A Tel. .
Pt'imsylraula It It.
Peoples (ias Chi ..
Philadelphia Co ...
Pitts Coal Co N J..
Pills Coal N J pf..,
P C C A. St L Pf...
pres-rfil S Car Co. ..
Pullman Co
Uulci-sUvcr
Uuleksllver pf
Ity Steel Sp Co
Hay Con Cop
Iteadliii;
iteadlnu 1st pf
Itepublic Iron & S. .
Hcpubllc. I A S pf.
Hock Island
ht IauU AS p
bt L A S F 1st pf. .
St I. A S F2d pf..,
Sears Hoe A Co....,
Shat Ariz Cop
bloss-Shef S A I
south Porto It .Sug.
.Southern Pacific....,
Southern Hy
Southern Hy pf
Standjpt Ml'lln: pf
Studebaker Co
Term copper
Texas Co
10
12.1
OS','
02),'
17
f,
107
KH1
:'.c.' i
I2.'t
10
12.1
)S4
02' i
17
Hid,
B3U
.'()
at '4
4" 4
.i!5
o
o
:::::iS3
:::::,nk
141
42'4
'..I
1 , , . 17
70
::::: "i's
14
HS'i
nj
r,n
tints
a'.
lno
1;
::::: "a-
.... an;
::: ft
.... MM
Vksked.
LM'4
Ml
an
"II 4
711
no
153
11 -
ip-
IIR
I a
'J.H
IS
7 T,
L'l
iiU;
or,
int
.s'i
13.1
17'i
1-J'a
n',
sni
'Ht
SCllHIDIAItllM.
I'i
31
'jar.
1st
L'.lH
4 . ..l'll
ri'.M
a 1 a
230
I Ml
-Jin
L'.'S
n-j7
ai'i
OTHKIt OIL STOCKS
llnrnett Oil
Coprlen Oil
Chaliners Oil
II1.11.1011 Oil
.Midwest llennlni!
MININO STOCKS.
Supiilpa
Atlanta
1 'orro ite I'.isen
Iiulte 1' A V. v t etfs
llutle It X Y
l'lrxt Nn tlonal ( opper
Oolillli-ld Merger
Ilcrln Mlnlni;
Hone Sound
Jim llul lor
.ltiniln KitrtiMon
M.n-mii Copper
Mil'lnle)--lirrnr(li
Mini's of America
Xll'lnilm: .Mln.-s Co ,
Sun Toy
Wont I!iid ('onsullil.itcd
Ken '.ln:
PONDS.
11
HI
117
14 '4
111
as4
11',
a'i
(IU
111
4 n-ni
iS'
(IS
I .
sr.
Nl
I7U
-7"
IW
17
l.rle 4a .
Midvn.o Hi
Cerro do
K7..
.117
11
17
aii
nii
a'4
IS
.
S7
.s:i
17 '.4
43
a'i,
11 ;
17 '.4
S7'i
I'HT.
It!)
LOCAL LOANS EXPAND
Increase of ?5,330,000 Surplus $G,-
922,000 Smaller
There was an expansion of JH, 330,000
In toans of the memlicrn ot tho Philadel
phia Clearing House Association during
the last week, l)rlnKln that Item up to
$199,145,000. Surplus fell $6,022,000. In
dividual deposit:- declined $3,015,000. De
tails follow:
Mnrcli SI), mill.
Lnnnfl
Deptn. I Ind.)
circulation
Due from linnkH...
DepoHltH of ImnkH. .
Kx clrarluir houe.
itPHrvo held
Hi'werveH required .
SurptuH
tlpcrciiBe.
SurnlUH under old
.4l!).l I .-,,1)01)
IL'li. Ill 1. 11(111
II. 7117. 11(111
"(I.77II.IIIIII
1KI,S."3.lll)l)
3D, Ml.',, Illlll
117, I7M. lllll)
77.II7I.I)IIII
40.IIIIO.OIJl)
form,
IticrpnR,,.
S.-,.a:iii. (iiiii
-'.111.1,111 III
lllll. 111)1)
i.aso.nno
r. 1111, 11011
1.. (III. (lllll
'7,(1411,111111
1IS.II0I)
"0,1)32.(100
l()7'i
101
an',
12.1
i2(i!4' lan'i
iiisn Kis'i
20lj
07 '4
111
11:1
tioi;
20!-j
(7H
111
1.14
1 i:s
110',
101U HH'i
:ih
o7
122
ti'J
113'(
on
srM
m
122
IVJ't
lia1;
7',
2.1' 1
ao
r,7
...inijj huh i⁢ Kiir;
..10:1
.. 4V
.. 0U
.. -ia
.. an;
.. S74
,. lo
XiH
f.
23
10.1
1)2
.10
11:21;
m
r,n
12
2 IK
S7U
1.1
5114'
i:
28
1(H!
!)2
r.M
102
1
f'4'
IW5i
21
60,'i
13
M
12
IS
10:1!.-
02
st.1;
102
n
.Vi
10JI
21
fell 5
15
nu low; loojs ioo';
a
.. .1
.. m
. in
.1711
.. a7?4'
.. rm
..101
,. uu
. 2i;;
.. mt
bj
ii
3!i
Mi
t'i
170
;i7i;
103
oo);
00
t7
H
a?i
w
170
a7J-i
5S
VM
0S4
Slit
00
87
..HOIj 147J 114U
t,7ii S7U
. .202 10U
Teias Co rights IWf
18! ;
Oil;
m
01i
01
50
100
IS
fit
8i
3.1
03J
03'i
a.
5' 1
Pi
170
37) i
103
2J'i
CU
S7
14 Pi
SO
l"JO!
IS
uo;
84
33
oi;
G3)i
VMii VMV, 155) j 155)i
Third Avenue C0)3
Colon Ha: A Paper-.. S)i
Union Ha; A P pf . . . , 33
United Ulnar Stores. .. 0)j
United Clsar Mfrs.... 02)f
Union Pacific I33, 131 I33U 133)i
Union Pacific pf 83 m S2U 82)i
u inn Aiconoi. ,
U SC I P A F 25)i
U S C I P A F pf . . . . 54
United Fruit 117
Un Hys Inv Cc pf . . . . 30)f
U S Itubber 5314
U S Itubber 1st pf....lO!f HI
V S Steel Corpn 8tii; 803
U S Steel Corpn pf....!17Jf 117
Utah Copper 82Ji i
uun becuriliaii 17)
Va-Caro Chein 40
Va-Caro (hem pf 100j; Jll!i 1U UHf
a iron -oji & 1, aan
Wabash 14i
Wabash pf A -mi
WatMih pf B 27J4
Uilli Fargo Kip 120
Wwt K A M CSj
Weoteru Maryland 30
Stt Maryland pf 45
Went Unloa Tei OOJi
Wal A I, li 1st pf. . , 13
Willys Overland 234 234K
Willys O pf r ( p. . . . lOoli 100 1053X 105i
Wool 01th F W 122h 1J2JS 121H 121H
WooUorth V W pf-..l24i 124H 12414 124
"Quoted ex dividend.
Total lalra. M0.70O hare, compared with
931,100 ulutxca lat Ilaudj-r.
GOVERNMENT BONDS
25)j
54)i
148
30
51
isj;
40
53
14H
43)4'
27
128
ow;
24JM
Mii
ma
23
51
140
30
52
110
84i
116);
82
lSJi
40
53
141
43)f
27H
127
07)1
20
40
DOJf
10Ji
31
23
54
140
30
52
um
kd;
no);
82
1SK
m
53
-J33f
27H
127
OS
20!i
4Ci
OOrf
10;
231H
resUtd.lW VJ
Uld, Ati
COUpOO JK30 . SO
resuie.-eii.uu3 ,..,....., ao:
103M
Xtnrrh "i. mil.
wuh J3.170.niKI: llnrcli IS. 11)13. l.1.!)2.()iin:
Mnreli S3, lllll. I1.H7.UOO; Jtlirr 311, lllll.
Jll,ll!7.r,0().
FOREIGN EXCHANGE
XRW YOItK, March 20. The feature
of tho forelBn cxchanRo market at the
opening was htrength In French exchange,
which wan (pintcd nt 5.91 for entries and
5.91 ',! for checks, as compared with 5.91 ',i
and 5.90 at the opening on Saturday morn
ing. Itelchsmarks wero quoted at Va above
the low record, nt 71 ? and "I 13-10.
Sterling showed firmness at 4.70 5-16 for
demand nnd 4.77 for cables. Other quo
tations wero: Lire cables. C.C9!4 ; checks,
0.70 U ; Swiss cables. 5.22 ; checks, 5.22 i :
Vlennii. 12.17 nnd 12 49; Stockholm, 28.85
nnd 28.95; pesetas, 19.12 and 19.13; guild
ers, 42 5-10 nud l-a i rubles. 31 mid 32.
From tho ndvnnco which started on
Saturday French exchango by tho early
afternoon had reacted 1 ',. centimes to
5.928 for cables and 5.91 ,J for checks.
Sterling was linn at 4.7GH for demand
and 4.76 15-16i(T1.77 for cables. Itelchs
marks wcro within tho merest fraction
above the extreme low record at 71 11-16
71-Ji.
.Ww York .
Philadelphia
Iloston . . . .
ClllClllfO
RATES FOR 4MONEY
Cull.
I .
a a & 1
l nnimeretal paper, three
udeliilila. :l'iC(f 1 per rent.
:i
a'.iSI
Time.
, on a
4
1 I '4
4(1 1 'j
RANK CLEARINGS
Hank clearlnsa today eumpared with cor
rrspondlns day last two ear.i:
1II1U. llilil. 11)14.
Tloston .. .J24.5H.70T JI0.llSli.12n IlT.77ll.0nn
I'hlla 32.21ll!,.H0 lll.l.2,lin3 20.K32.KSl
New York.3in.llTO.411 210.712.371 21T..13:t,120
Chlcairo ... 111.013,331 4 II,. VS.",, -1(2 fll.SH-i.OlD
St. iouis.. ia.3TH.iao i2.uss.gsa 1s.2B8.750
RAILROAD EARNINGS
DUTKOIT AND MACKINAC.
lUlfl. Inc.
Second week March.. J2U.0I1U S23
From July 1 758.0T8 25.333
CANADIAN NOKTIIKHN.
Second week March... IS3S.000 1120.000
From July 1 20.3lT.lnil 4.T47.000
Midvale Convertible 5's
q Only obligation of the Com
pany with the tangible
property alone valued by
the Company at more
than three times the bond
ed debt
q Indenture will provide that
no mortgage or pledge on
any of the Company's ex
isting property can be
placed ahead of this issue
q At present quotations these
Bonds yield over 5
q We offer a limited number
at the market price
q Full particulars on request
Reed A. Morgan & Co.
WEST BND TKUST BU1I.DINO
1-IIILADKLl'lIlA
Mtmtxr of It" fblla. Stock Exchange
DIHECTOKV OP ACCOtNTAKTS
CerlldJd I'uLUa .tttouutaun
LAWRENCES B. BROWN h CW.
1919 USAI4 taTATa Tiiuax uuiioniia.
Sates In Philadelphia
r.oo aiiu rimlm.
r, Anaeonila .Mln. sil4
128 Am nwys ... 31 Ji
Net
llUh. Low. Close, en-re.
31.. 1.. 21 - S
oil "TH Vi7 ', V'
nt 3191 ?
.... , ,..,..! k Ik
2., Ani.iiwi i"',""' .'.";, v:;i7 j. li
ID llnld lico ...I12H lti8 lja 1 t I?
211 do pr IO11J4 liniji li' !
Inn llrill JO .... 48j 43 43
I.-, fun Iron ... 414 -Mi J! '.II
Inn Cam Hlcel ... R1 HlJS M H
linn l!lrr Hiorniro. n.l 112 H M
mill DIM Hotll ... 411'i iiOjt 41' '..
3TW 27- "Iff i
in nn., . ....
KiU in ,vl
m sj h
12 '4 12 '4 J4
'l 43H
"4 -J7H 27?4 ,.
1H III' ll'H
'", 'L'.. i-. "
8T. 8.1 Ji ;? :'
44 lu 4U 'n
n II 0., .....
Oltl J.-lV. J3l ',i
.12 V S2U
IU. 1(ll&
4 inti
Mil
11 u
3 (Ion Anphnlt.
to Inn Co N A.
Key t jo pin uu
IO11 Konnoo Cop.. nrtH
T." I.nko Hup Cor 10 4
12 t.oh Nov .... 1(W
1.1 Irfh Vnl 71'
200 l.cli Vnl Tr.. 23H
(ID do pref 44 H
f.t Va Halt, Mfg.. 101
n I'hlla Co . 42W
. I'J do rum nrof 4 1
lill Phlln. l'l- ... 2.
2IMI I'hlla II T....
I. -in do tr elf. . .
nil) ltcndlna
211111 Ton llHmont.
mir, Ton Mlnlnit. .
I2S t'nlon Trne. .
una I
nr.2T u .1 stfi
2(10 ITtah ('oppxr.
21 IV Jor SB. 4n(
2111) crump & Kon en.
loo Yorl Itwy .. It '4
Wi'4
HI J 2
il:i,ii
Nil
n't
Total .Mir.. I5.B0I) ijhar, compared witn
18.1)1H hlmrri lint Monday.
liONDS.
tllnh. Low. Close.
S100 Am U & II r, 111 y,
1UUO llalil I, let r.n.ll).-. i
.limn 13 & V Tr 4.. 8I
11100 Inter ItwyM in ni
loonn I, ,N con IUn.ld'1.
Mlilll I'a Bnn .IV48. .l()2'.S
luniin I'll Co cons Ss III
2lini) I'hlla l'l In, . HI
(WO do fis 101
lonn stand rlim n.i. tn?i
inon weimi Co nn., orm
22000 WNYAl" nn 4r mi 'i
-4-Increane. Decreneo.
tit
in.-.;,'
8lk
SS
1034
1112,
1134
lli:i
lin;
ns 4
83 U
tl'l IL
nisi
M
1112
102
(U
81
,11171
80i 1
Net
chee.
,
i
'ii
-!
Total Riile, ST0.700,
l.mt .Monilny,
rnmpnrril wltli SIT.Ono
Local Bid and Asked
Hntd-vln ln,'4
Hun sua to 41,
iln pref r.8'4
llrill. .1 Q 43,
Cam Steel 8ii'4
Hire Stnrnfo 02R4
(Sen Aep 37
do pi of 72
Kes stone Tel II 'a
In t ll't
In pfd HI'
Lake Sup Corp 1"H
Lelilah Nnv 7.1;
llilKh Vnl 7M'4
LehlKh Vnl Tr 33
do pfd 43t
IVniiflyUnnln f7.
I'lilla F.leetrie 37'4
I'hllii Co 12
do 3 por rent pref. JIM
do It per cent nrrf. I.lli
Din II T
do t n
RendlnR
Tonopah lielmont...
'I'onopali Mlnlnt?
Union Traction
It Clan Int)
ij m riiTi
Today. Yesitenlay.
nid. ABked. llld. Aiikeil.
108 lll'i 112
Yorlc Itwy
do pref
Wni Criiinp t c.
Ill
111
M'4
:
i.i i
W'i-)
8i?s
11
37
Ml
42
W)r4
II
St'i
113 '4
3T '
73'a
tr.
1.1
"II
in,
IS.
Wi
u-
27 i
13
an
I3'i
Ill's
Hi's
"':
.11
r.81
4 2 '4
hnH
113 't
37 '
ilk
1I'4
n:i
io',
7.1 ',4
Si.
11
r7ii
2T4
42lj
311
4 3 '.4
in'i
N7S
4. 4 t-lil
111
Wlji
8 1 I'
ll1; 3S
83
n
Ml J, '
811 t.i
11,
7!)
.12
nn j
4.V4
81 4
ill
.17 14
72 '5
in
ir.
"".
KM
4 i'i
37 'i
37 fi
4. 1'4
41
44
inji
r
Hi!
81' U
mi;
11 n
37 '4
83
Financial Briefs
TI10 New York .SuMrcaBiiry gained
JCIS.000 from tho luniks- on Kattinlny,
innltliiR a cnah net enin nlnce Friday of
11,461,000.
N'ct carnlnRS of tlio Otis Klovator Com
pany for tho year cnilcil December 31
were 173B,fi60, nr;alnst $8"fi,125 In 1014.
.Surplus wiib 127,094, eoniparcd with $22,
CCO tho proNioua year.
Tho t'nlted Ktntcs Cast Iron l'lpo Com
pany reports for the seven months ended
December .11 total income of S417,fi62,
with net lncomo'13G1.7SS, count to 3.01
per cent, on $12,000,000 preferred Ktock
for the period, iiRnlnst 1.3 per cent. 011
$12,500,000 stock for tho full year ended
May 31. 101S. j
The entire outstandlnR Is-suo of Thurlow
Steel nnd I-YirKlnK Company, Chester, Pa.,
7 per cent, preforrcd stock has been called
for payment as of April 1, at 115 and ac
crued dividends.
Thero has been placed on tho rcRtilar
list of the Philadelphia Stock KxchaiiBo
$788,800 additional American Teler-rapli
ami Telephone stock anil 57C0 additional
American Milling Company stock. Thero
has been struck off the regular list $103,
000 Wclsbach Company G per cent, bonds
nnd $41,000 llnrwooil Klectrlc Company C
per cent, bonds retired by sinking funds.
Xo formal statement will be made rel
ative to tho disposition of stock anil as
sets of stockholders to the plan of re
adjustment for tlio Minneapolis arid St.
Louis ltallroad Company until after the
closing ot tho transfer books 011 April 15
for the especial meeting of stockholders
to bo held on May 15 to act upon the plan.
It Is learned, howevei, from tho olllcers
of the company and their associates In
this undertaking, that the full "5 per cent,
of both preferred and common stock neces
sary to mako the plan effective has as
sented thereto.
The Ohio Oil Company statement ns of
December 31, 1915, shows a profit and
loss surplus of $65,811,743, against $08,
819,127 the previous year.
Directors of the B. I. tlu Pont de Ne
mours Powder Company, of Wilmington,
Del., met In the Hudson Trust Company
Ilullding In Hoboken, N. J., at noon today.
After adjournment at 1 o'clock nothing
could be learned from nn ollicial source as
to what actually transpired at tho meeting,
but It was stated on good authority that
no action In regard o tho dissolution of
the company' was taken and there was no
fight over proxies.
B.A.
PUBLIC SERVICE
SECURITIES
Public Service Securities
are a lien on the success of
communities.
C We offer a Public Service Bond
that is extremely attractive owing to
the unusual underlying conditions.
Ct The earnings of the company are
now over two times bond interest.
C, The opportunities for increasing
business are exceptional for reasons
we -will give you.
C Bonds yield about 5.45 and
carry a stock bonus.
Ct "We recommend this security and
will furnish you full information on
request,
Baker: Ayling & Co.
Land Title Bldg. Philadelphia.
We Specialize in
ZING
CONCENTRATING CO.
MAX B. BORG
Stocks and Bonds
20 Broad Street,' New York
Phone, Rector 2305
PHILA. AND WESTERN PREFERfeEn
STOCK PLACED ON DIVIDEND Ugjj
Tnirijil Pjivmnnr, of lVi. Pol Gent. Armniiiirv-.fi t?. .
fnv TTohvimfv nnrl Vnnv ClnnA n,. &--1
Shares Fell Two Points
Tho most Interesting pleco nf news In
tho local (lnntictnl district toilny was tho
declaration of nn Initial dividend on tho
preferred stock of tho Philadelphia nnd
Western Itnllwny. As action of this kind
was forecast nbout n week ngo It did not
occasloiv nny surprise. Tho dividend was
lVi lcr cent., nnd It Is payable April 15
to stockholders of rerord nt tho close nf
business March 31. Dividends on tho stock
beenmo cumulntlvo on Jnnuary 1 of this
year.
Following the announcement of the
Inltlnl dividend tho cnrnlngs' slntctnent
for the month of February and tlio year
ending February 2!) was given out. learn
ings .compared very favorably with the
same period of the previous year. The
grosi In February of this yenr was $.1't,
725; Increase, $3527. Not, $16,007; In
crease, $1414. dross for tho year wits
$471,739; Increase, $75,804, nlul the net
earnings for tho samo period wcro $241,.
1S3; Increase, $35,35 1.
A sale Of Victor Talking Machlno stock
was reported today nt $015 a, 1,,. I
this stock Is WryloailVhdfiSJ
dealt In In tho market, yet mi ,? h H
Interesting to the nnn 1. ' ?,,.c-rvtrr
sale is $15 above the lnst PJ "c,1 JW
notion, which was at $300. UousWl
uusiness on tho Philadelphia Siti
chango Was nirnln m. ..i,,"a h.ll)V tV
tri , r."""- """" ""I ti.M
:.""." "'.."';"?. nKT0 irregular. MtZZ'1
1110 irenu in wail street Durlni iv. " 1
session Klectrlc Storage Ilattew l'ft-?-but
tho fraction was recovor . "M
afternoon. Plillndelphin HatiM "'
tmnssetited stock sold for the (iri m1
since about the middle nf Februarl lS
ing a sinnu irnetion Weni tA:' "
l-e.f-hnre dropped 1 1 toc1t ofv ', M
Kuperlor Corporation rnn u ."" kl
cll!,c', ,lwn0.n,",l!,,f, latp ,n " ?
sale of 200 Bhares. Tho w,:,1! 3
quiet. ; '
ran only feature In tho band ,11,1 ,
was Western New York and C,.&
mliprnln In. tvlilrl, n,l... , ''."."'Mllli
tininH ,,f ii4nM ""w-1- l on th 1
sales of ,$22,000.
FEW SALES IIKCOKDKD
ON COTTON KXCHANOG
Effort to Press Mnrkot Checked by
Firm Tone in South
NT,V YOIIK, March 20. Annthrr small
opening was recorded on the Cotton I'.x
change this morning, thero being 'e-s than
a dozen transactions 011 the call. The
tone was steady, Willi prices ttnohnnged nt
2 points higher. Wnll street selling utiil
local liquidation were noted, with the buy
ing coming from scattered sotiroes. Liver
pool purchased a small amount of July.
After tho start there was an effort innilo
to press tiro market, but tho comparatively
linn tone In New Orleans was a steadying
Influence.
Tho ginning report was slightly below
expectations, but tho largo llnters olTst
this feature, bo that tho statement was
considered about n stiniil-off.
The market was quiet later In the day
with prices holding steady nt n net nd
vnnco ot 2 or 3 points. Memphis wired
that tho market was getting long with
spot demand less active nnd thero was a
wlro from New Orleans, which said that
spot demand had slackened nnd that 12c.
for middling cotton was bringing out
pouio cotton. There also was n wire from
Abilene. Tex., reporting 11 continuation
of tho drought and asserting that tho
weather situation was herlous.
Hnt. rloflo. Onon. Ilmh l.nw. rlnpn.
Mnrcli II. S3 ll.s.1 II. lis 1I.S.1 11. !''
Mil- It. till 11.I1H I-MI7 11.111 1S.IIS
j iv ! is.1-. is.ir, il'.-ji r.M.i IJ.-1-.'
October 12.27 r.'.2lt 12.3H 12.21 12.31
lipt-omlwr ..12.43 12.11 I2.ni 12.111 ta.jti
.liinuary ....12.IK 12.13 12. .V, 12.11 J2..V.
Spot 11.03 12.03
Liverpool Cotton
I.lVKHl'OOl., March 20. Spot cotton
today was quiet, and 0110 point higher on
tho basis of 7.S2d. for mldiiplands. Tho
sales wero (5000 bales, Including 5000 bales
American. The linporta were 1000 bales,
nil American. The market for future:)
closed quiet and unchanged to Vjd. net
lower.
HAU SILVER
1 loiUy In t.j.. ni
j
Imr pllvcp win quoi
27-Iiil.. un 3-lflil.
iiiii'iiifii in,r pi vpr vns mmlnj , .. .
York toiiny ,,t 37 H .,. Vn ISftJeJ'
Free of the Pennsylvania Stall T,'i
Free of Normal Income tJI'
A First Mortgage
oond
secured unott Electric TM,i .
Power property scrvinK a ponula. "J
'ion of 45.000 in territory adiactni i
10 jonnsiown, l'enna.
Able Management
Franchise Perpetual
Ample Sinking Fund
Net Earnings Over Twice Intcreil'
Price to Net 5.42
fJcscrOillfo ofjciini) iiioii rcipieii
Rufus Waples & Co.
, 322 Chestnut St.
Philadelphia
Less Cotton Ginned
"WASHINGTON', March 20. A report Is
sued by the llurcau of Census today shows
tho quantity of cotton ginned, exclusive
of llnters, from tho crop of 1015 to havo
boon 11,059,130 running bales, counting
round ns half bales, com; ared with 15,
005,810 bales from that of tho crop of
1911.
DIVIDENDS DECLARED
Kanims City, Tort Srutt iiml .Mi-mplils Hull
rnuil. rrsular nunrtprly of 1 nor rent, nn tlin
I ppr cont. trust eprllflciitPH. puynlilp April 1.
Hunks rlopl Mnrcli 17 anil rpoiwn April !.
Onld nml Mlncl Tolpcruph I'oinpany, n;Biiliir
nunrterly of 114 per cpih., payublo April 1 lo
slm-k of rc-cori! Mart-li 31.
Chlcaso Italliriiy Jliitilpmoiit Company, rra
ular nuartcrly nf I'i l'r c-ent.. payalilo
Marrh 31. llookH clomi March 20. reopen
April 1.
Knnnan flan nnd Klpctrlc Company, rpfjular
qu.irtPrly of l. iM.r cent, on prpr.rrpil. tiy
ublo April 1 lo holilcrs ot nronl Man-li 2J.
OnllPii Conumnlca of New JrrHpy. miarterly
of 12 no n Hharc. puynbio April 10 ns res
Islprrd March 20. ,
Ilea Motor Cur Company rr-TUlur quarterly
of 214 per Vent, on lommon. payable Atrll 1
to holdcm of rproril Mun-h 2n.
KUi.ll fiu.ii.rtiy
ll 1 tn holders
Tui,i rnvL Cnnl Cnmnanv. rptrular nuar-
terly ot il.3u on profprri'il nnd M) rpnla nn
oommon. 1'rpffrreil . la i.-iynl-l- April 1 to
stock of rerord .Man-h 21 unit the common la
nayabli- Slny 1 to stock ot r"coril April 22.
Wnnaylvnnla Company for Iniurnnce on
on l.lvps nml ariinllns Annuities. rcBUl.-ir iuar
terly of 7 ppr cent., payable April 3 to stock
holders of record March 23.
Guaranteed Income Bond
S500.00 n Year for 20 Yttri
To nny named Beneficiary.
OUANANTKES $10,000 total .
merit regardless of length of tlrns tM
bencflclary Uvea after your death.
At Age of 30 Cost $86.92 a Year
IV
KiriiN-, Annual Co. I).
ltntr nt other iiui". upon upullcatloo.
AililrPHH
Illinois Life InsuranccCompany
MARK B. LOCKYER, Manager
Moil; I'Arliilll-ln llullillnc.
I
Hupp Motor Car Company reiii
of 14 per cent., payable April
of record March 20
NEW YORK BUTTER AND EGGS
NEW YORK. March 20. IIUTTKll Mar
ket very modcratp receipts. kooiI ilemaiiil and
a Kencrally llrmer market. HecplptB, 3011
packnueii. llxtra crcunery. 3Kc. -. Iilchcr scor
Inir. 3SV4O30C.; Htuti. ilalry, 3703714c.; Iml
tutlon creamery. 2il2U14o
KUOS Market in,Uc and lilk-lier under
llsht recelptB. Itecclpis. 11.327 cupps. l'Mra
llrslH. 23c; llrala. 22224e. ; while i-ass,
27c: brown eggs. 2l(fP2c. , mixed color. 22 lnW
23c; refrlscrntor best not iiuuled.
3LS
si
IK
I
Gcoriria, Carolina
& Northern R.R.
1st Hlort.
Due July, 1929
Sv I
j I'rlco on Appllrntlon IS
p. v, 1 , . ' , 1,, 1 1 J '
FOR CONSERVATIVE
INVESTMENT
Tux I'ree Ktiilroail llonil ,
Kcellctit Serurlty
Larce Mnklni; lund
PRICE TO YIELD 4.35X
Circular fu nibbed upon reaunb
IVJELLOR & PETRY
.llemberN N. Y, & i'lilla. .Stork Eichamti
330 COM.Mi:ilt'l.I, TKUST ItLII.DINO
The 'First
National Bank
of Philadelphia
315 Chestnut St.
First ,
Comptrollers Call.
October 1, 1863.
RESOURCES
Loans and Investments .
Due from Banks
Exchanges lor Clearing House
Cash and Reserve
Sundry Items
LIABILITIES
Capital
Surplus and Profits
Unearned Discount
Circulation
Deposits
$261,100.00
159.900.00
124.144.00
7.276.00
$552,420.00
$148,400.00
404,020.00
Last
Comptrollers Call.
March 7. 1916-
$23,211,419.97
4,888.084.46
901.584.06
8.638,953.24
$37,640,041.73
$ 1,500,000.00
1,621.101.73
42,280.24
1.000.000.00
33.476,659.76
$37,640,041.73
$552,420.00
J. Tatnall Lea. Chairman of the Board. ,
Wm. A. Law, President Charles H. James. Asst. Cast;"
Kenton Warne. Vice-President Freas B..Snyder, Asst. Cashier
Thos. W. Andrew. Cashier Harry J. Haas. Asst. Cashier
V (
LOGAN TRUST COMPANY
OF PHILADELPHIA
1431 CHESTNUT STREET
CAPITAL, AUTHORIZED
$1,000,000
PAID IN, 1316,900
SURPLUS AND
UNDIVIDED PROFITS
$380,000
Managed by progressive a"l experienced officers,
with every facility for the benefit of clients.
We invite'regular and Savings Fund accounts.
ROWLAND COMLY
Prtsidtut
WILl I AM BRADWAY
arteasarw
I
1ST
pi
iai
t!
1
I!
s
fe
J
r
e
ti
I'
9
I"
ft
i
1